East Nashville Homes - Maria Patton

East Nashville Homes: Nashville Housing Market Update For October 2011

Nov 062011

East Nashville home sales slowed down a little for the month of October. There were a total of 84 homes that closed for the month of October vs. 102 for the month of September. One big difference and a positive one is the average number of days on the market. In October the average number of days on the market a home was listed before it closed was 77 and in September the averaged DOM was 94 which is a pretty significant change. Will this trend continue? I think we are entering the ” slower ” months as the holidays approach so listings may sit a tad longer but contracts are still being written and homes are still selling fairly quick.

Other Nashville neighborhood market news. Condo sales seem to picking up some especially in the downtown/midtown area and the Gulch. 13 units just in this area closed in October with an average DOM of 73. Buildings such as The ICON, The Terazzo and The Adelecia are almost completely sold out with only a few units remaining.

Sylvan Park had 8 homes closed in October with an average of 84 DOM. This is a neighborhood that is smaller and does not have a huge amount of inventory.

12th South/Belmont had 3 homes closed with and average of 58 days on the market.

I do a search by neighborhood so if they are not entered into the MLS by a specific neighborhood for example: ” 12th South/Belmont ” they will not show up in my search so results could vary depending on how they were entered..

It is my opinion that the Nashville housing market is in a whole lot better shape than even a year ago. I am extremely optimistic and looking forward to this fall/winter and the upcoming spring/summer.

East Nashville Homes: Housing Market Update

Oct 052011

Do I dare utter the words ” sellers market ” ? …well, lately it may seem so. My last few transactions where I have represented the buyer have been multiple offer situations for the seller. My last transaction where I represented the seller, my client’s property was contracted in one day and closed in less than 30 with a back-up offer. These being in East Nashville which is a hot neighborhood in Nashville but this is happening in every Nashville neighborhood and applies to loft/ condo sales as well as single family homes.

East Nashville had 102 homes close in September with a median ” days on market ” of 68 days and an average ” days on market ” of 92. If I look at the active listings currently on the market, I will see A LOT of homes under contract.

East Nashville Housing Market Update

Buyer and Seller Resources, East Nashville Home Sales No Responses »

Jul 252011

June was one of the best months for home sales that we have seen in a while in East Nashville. There was a lot of great inventory on the market and even as we enter into the later part of July there are still some great homes out there. In the month of June 103 homes closed with an average of 65 days on the market which is fabulous. Homes that closed sold at around 95.8% of their list price which is pretty consistent here in East Nashville.

On another note it is time for the Tomato Arts Festival. Every year the powers at be go out to bring hot fun, art, crafts, music and of course the best in tomatoes..It is happening August 13th..

http://tomatoartfest.com/

Which East Nashville Neighborhood Is Best For You?

East Nashville, East Nashville Home Sales, East Nashville Neighborhoods 2 Responses »

Jun 082011

One of my favorite parts of being a Realtor in East Nashville is helping a client find their home in my neighborhood. Whether they are already residents of East Nashville or moving from out of state or another part of the city, I love showing them around. I get the opportunity to see parts of East Nashville that I don’t get to visit on a regular basis. As a resident for 14 years now, it is easy to comfortable in my surroundings and working with them is exciting.

I often get asked questions about East Nashville regarding safety, schools, and which neighborhood might be best for them and while I would love to be able to answer those questions, I have to be what I call the ” source of the source ” to give a better explanation, I am not allowed to comment on safety and schools..bummer I know but Tennessee Real Estate laws prohibit Realtors form doing so. However, what I do is make every effort to give them every source I have available so they can access the information they need to be comfortable.

When It comes to making a decision about which East Nashville neighborhood might work best for you. Here is my guide line. The are a few things to consider. East Nashville is a great neighborhood for sure. It is fun, hip and one of the best places to live in Nashville but it is urban and it is city living. There are the issues that come with living in an urban area.

East Nashville is comprised of several ” neighborhoods ” and depending on what you like and your lifestyle, you can find your fit. If you like to be close to the action, then you want to focus your search on homes or condos close the Five Points area. Lockeland Springs and Historic Edgefield will likely be your best bet if you want to be within walking or biking distance. Homes will be more expensive in this area but occasionaly you can come across a good deal.

If you like the peace and quiet with a big yard and driveway then you want to look in Inglewood, Rosebank, Fortland Farms and Porter Heights. You will find homes here in every price range. Homes will be priced from 100k to over 400k and in variety of styles.

If you are an urban pioneer and looking for an affordable home with some character and willing to do a little work to a lot of work then look in areas like Cleveland Park, Maxwell Heights, McFerrin Park and South Inglewood. These are great areas and very up and coming with some great homes. Home prices will vary greatly from investment priced homes to homes that have been renovated and are turn key.

Eastwood Neighbors and Shelby Bottoms are two neighborhoods that are also fairly close to Five Points ( driving distance ) and have great homes that are moderately priced.

East Nashville has something for everyone. Every type of person fits in here which is just one of the reasons I have called East Nashville home for so many years.

East Nashville Housing Market Update: April and May

East Nashville, East Nashville Home Prices, East Nashville Home Sales No Responses »

Jun 072011

East Nashville home sales for April and May reflected a strong start to the Spring and Summer home buying season. For the month of April there were 96 homes that closed with an average ” days on the market ” of 87 days. Of the homes closed, the average closing price was $132.6 and homes in East Nashville sold at around 96% of list price.

For the month of May the East Nashville market stayed about the same with 94 homes closing and an average ” days on the market ” of 86. The only significant change is the average price of home closed which was $123.8 and homes sold at around 96% of list.

As home prices seem to decrease nationally, we seem to be remaining pretty stable here in Nashville and in East Nashville. While home prices are not increasing they are not really taking a dive either. We still do have a pretty healthy inventory but contracts are being written and listings don’t seem to be sitting as long.